Corcept Therapeutics Incorporated (NASDAQ: CORT)
Hagens Berman Sobol Shapiro LLP alerts investors in Corcept Therapeutics Incorporated (NASDAQ: CORT) to the firm's investigation into possible securities law violations.
If you purchased or otherwise acquired securities of CORT before February 5, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more infomation contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing CORT@hbsslaw.com.
On January 25, 2019, the Southern Investigative Reporting Foundation (“SIRF”) published a report concluding Corcept is an example of what’s wrong with the healthcare system and questioned whether the Company might be using its speakers bureau program to improperly compensate doctors for prescribing its drug known as Korlym.
In response to this report, the price of Corcept shares fell $1.52, or about 11%, to close at $12.29 on January 25, 2019.
Then, on February 5, 2019, Blue Orca Capital published a report concluding Corcept’s “sole specialty pharmacy and exclusive distributor is an undisclosed related party” and, if true, the relationship “creates the material risk that the Company is using its captured pharmacy to boost sales, hide losses or engage in other financial shenanigans.”
In response, the price of Corcept shares fell as much as $1.06, or over 10%, during intraday trading on February 5, 2019.
“We’re focused on investors’ losses, the matters discussed by SIRF and Blue Orca, and whether senior management might have misled investors,” said Hagens Berman partner Reed Kathrein.
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